What is Saitama Inu: Educating The Next Generation of Crypto Investors
An anonymous founder launched Saitama Inu in May 2021 on the Ethereum (ETH) network. The project’s primary goal is to educate the younger generation, especially Generation Z, about investing. SAITAMA crypto trades at $0.00000004174 per token, with a circulating supply of 44.6 quadrillion and a total market cap of $1.86 billion.
What Is Saitama Inu?
Saitama Inu (SAITAMA) is a decentralized platform aiming to educate young people about investment and empower users to create their own wealth opportunities. For this purpose, Saitama Inu’s creator created a simple crypto ecosystem to cultivate crypto knowledge among the younger generation, all while ensuring its inclusivity to older generations. Now, the Saitama Inu project is not only about investing; it also focuses on developing the project’s wallet, edutainment, market, NFT-based launchpad, and in-house entertainment.
What is The Saitama Inu Coin?
Saitama Inu uses a native token called SAITAMA. According to the project’s whitepaper, the token logo was inspired by a myth about “ghost dogs” in mountains in Saitama, Japan which are guardians against misfortune. SAITAMA is an ERC-20 token and is categorized as a meme token. SAITAMA has recently gained some attention from the crypto community as it is a dog-themed meme coin. Dog-themed meme coins in general received considerable attention and experienced price gains during the Dogecoin (DOGE) and Shiba Inu (SHIB) hype over the past year.
3 features of Saitama Inu
There are three major characteristics of the SAITAMA coin and the Saitama Inu project:
- The passive income system adopted by Saitama Inu benefits its users. Users staking their tokens in the Saitama Inu pool will enjoy returns, which are sourced from transactions performed with the SAITAMA crypto. 2% of each transaction is deducted and used as incentives for the Saitama Inu community. In other words, as long as users are in the pool, they will receive passive income any time a transaction is made within the community.
- Token holders are unaffected by inflation owing to the deflationary currency approach introduced by the team. According to the report, Saitama Inu has a total supply of 100 quadrillion tokens wherein 55% was burned and only 45% are currently in circulation. According to the Saitama Inu team, 4% of the remaining 45% are locked in Uniswap (UNI) for initial liquidity. For each transaction, another 2% will be burned, reducing the token supply so that the value of the Saitama token can be increased.
- Saitama Inu uses an “anti-whale trap” to ensure that every user earns profits in a fair way. To implement this strategy, Saitama Inu coded the token to prevent large holders from controlling the liquidity. This anti-whale feature is coded within Saitama Inu’s smart contract and helps Saitama Inu avoid selling pressure caused by the sudden dumping of tokens in huge amounts by whales, or users with significant SAITAMA holdings.
The Saitama Inu Ecosystem
As mentioned above, Saitama Inu is developing a complete crypto ecosystem. The details of each major element within the Saitama Inu ecosystem are discussed below:
Major elements in the Saitama Inu ecosystem.
- SaitaMarket: The purpose of SaitaMarket is to create an exchange platform within the community where users can trade using SAITAMA tokens or other partner tokens. By creating its own marketplace, the project provides users with a convenient business execution point, giving them more freedom by using recognized tokens for different purposes.
- SaitaMask: The SaitaMask smart wallet facilitates cryptographic transactions and allows holders to track their investments in real time. The wallet is currently undergoing an audit, which is 95% completed according to the Certik audit team. The wallet helps users conduct transactions conveniently in the ecosystem while preventing users from incurring high taxes and service fees, which they would need to bear if users had their transactions processed through a third party.
- SaitaMaker: SaitaMaker is a launchpad platform regarding NFT solutions that is still in development. The platform will allow Saitama users to create and launch their projects based on the Saitama Inu monetary system and subsequently trade them. The platform was recently supported by Willie D, a member of the world-famous rap group Ghetto Boys. He joined the Saitama team with a deal worth over $50 million and is responsible for creating new NFTs.
- Saita Edutainment: Saita Edutainment is a unique approach of Saitama Inu and the core of this project. It adopts a multi-channel approach in educating people on crypto investment, savings, and money management. According to a US-based study, only 43% of Gen Z are financially literate. Thus, Saitama Inu is trying to train the younger generation and educate them about investing principles, especially investment in cryptocurrencies and other blockchain-based technologies.
- Saitama Studios: Saitama Studios focuses on mainstream entertainment and game development. It is currently developing a game called “Wolfcaster,” an action game that can be connected to SaitaMask so that users can play and earn simultaneously. The players can buy or sell their assets in the game (such as wolf fighters in Wolfcaster) with SAITAMA tokens. This play-to-earn strategy contributes to the SAITAMA token liquidity.
Who’s Behind Saitama Inu?
As mentioned previously, Saitama Inu was established by an anonymous founder. However, the founder has since renounced the project after its launch on the Ethereum network. Ownership renouncement in the crypto world is a way for the project team or founder to show the project community that it is not a rug pull scam. Nonetheless, users should take note that ownership renouncement is not a guarantee of a risk-free project.
After the ownership renouncement, the Saitama Inu project was inherited by the community wherein community developers stepped up to develop the project. The project later attracted the attention of a team led by former Berkshire Hathaway subsidiary owner Russell Armand. Saitama Inu is now under the operation of Armand and his team. Armand adopts transparent and open communication principles to develop Saitama Inu as a community-driven project. Saitama Inu users may communicate with the pool leaders through their weekly live AMAs or interviews that can be accessed via multiple channels.
Armand is the current CEO of Saitama Inu. He holds an MBA in business management and has four years of working experience in cryptocurrency. Armand’s prominence and affiliation with Berkshire Hathaway has strengthened Saitama’s community confidence in the project’s operations.
Saitama Inu Coin Price History: Is Saitama Inu a good investment?
Prior to November 2021, SAITAMA was trading at around $0.000000008 to $0.000000007. The price then peaked during a bullish trend at $0.000000147 in November 2021. Around this time, positive cryptocurrency news broke out, leading to a surge in Bitcoin’s price (BTC). Bitcoin’s rise in price led to a positive effect on the entire cryptocurrency market, prompting an increase in the price of SAITAMA coin. SAITAMA’s price then fell and slightly increased at the beginning of December. Its price dropped again due to the high-profile Bitmart hack, wherein SAITAMA was one of the tokens affected. There is no sign of token price recovery as of December 2021. Currently, SAITAMA is trading at $0.00000005.
SAITAMA currently ranks #2818 by market capitalization. SAITAMA has a circulating supply of 44.6 quadrillion tokens and a maximum supply of 100 quadrillion tokens. With a price of $0.00000005, the market cap is $1.86 billion.
Saitama Inu vs Shina Inu
The SAITAMA token’s strongest competitor is Shiba Inu (SHIB). Crypto enthusiasts have questioned whether Saitama Inu could surpass Shiba Inu to create another legendary dog-themed token among the meme coins. Let’s have a closer look at these two cryptos:
- Token standard: Like SAITAMA, SHIB is also an ERC-20 token operating on the Ethereum network.
- Maximum supply: SAITAMA and SHIB both have a maximum supply of 100 quadrillion tokens whose value skyrocketed after launch. However, SHIB was launched earlier on many major centralized exchanges, while SAITAMA is only listed on a few decentralized exchanges like Uniswap (UNI). Thus, SAITAMA so far has a smaller market and trading volume than SHIB. Community engagement: SAITAMA is equipped with attractive education and entertainment features focused on Gen Z, which increases its long-term competitiveness in the crypto world, enabling it to become one of the mainstream tokens.
- Tokenomics: Unlike Shiba Inu, which ‘’burned’’ its token supply by simply assigning 50% to Vitalik Buterin, Saitama Inu circulates its tokens through different pathways by keeping 45% in the market. It is also worth noting that Saitama Inu has a rule where 2% from each community transaction is collected as users’ incentives. This is attractive for users that are looking to earn passive income via holding cryptocurrency. Saitama Inu will also burn 2% of its tokens in every transaction to increase its token value. These operations contribute to the SAITAMA token liquidity and boost user earnings, setting Saitama Inu apart from Shiba Inu.
- Mission: Both tokens also contribute to causes that the respective teams believe in: Shiba Inu collects donations for real-world Shiba Inu dog rescues, while Saitama Inu is committed to donating to investment education bodies in the future.
By and large, it seems like Saitama Inu is riding the dog token hype and mimicking how SHIB rode the wave of DOGE to increase its popularity.
What’s The Future of Saitama Inu?
According to Saitama’s roadmap, it is currently in the last stages of development. In the final stage, Saitama aims for 200,000 holders or wallets, and is looking to introduce the Saitama fan token, launch Saita Mask V1 and SaitaMaker, and establish more partnerships. Due to the current NFT hype, the launch of the NFT-based launchpad may attract more users to its platform, thereby increase the size of Saitama Inu’s userbase.
Saitama Inu is a community-driven platform with a clear vision to educate Generation Z in cryptocurrency and provide wealth opportunities to its users. It is also a platform that offers appealing features, such as wallet, edutainment, marketplace, an NFT-based launchpad, and in-house entertainment. SAITAMA’s goal to educate the next generation in cryptocurrency investment is in line with the current trend as the world is gradually moving towards a virtual market. With such features, it is predicted that SAITAMA crypto may surpass SHIB, but only time will tell whether this is true. However, there is no doubt that crypto users (especially dog-themed token enthusiasts) are looking forward to SAITAMA’s future development.